Subs. by Act 26 of 2018, s. 30 , for "On or after the insolvency commencement date, if" (w.e.f. 6-6-2018) . — THE INSOLVENCY AND BANKRUPTCY CODE, 2016 Last Update 18-8-2021

Subs. by Act 26 of 2018, s. 30 , for "On or after the insolvency commencement date, if" (w.e.f. 6-6-2018) .

1. Subs. by Act 26 of 2018, s. 30 , for "On or after the insolvency commencement date, if" (w.e.f. 6-6-2018) . Provided that a person shall not be punishable under this section if the acts mentioned in clause (a) were committed more than five years before the insolvency commencement date; or if he proves that, at the time of commission of those acts, he had no intent to defraud the creditors of the corporate debtor.

Section 1